Former Finance Minister Ravi Karunanayake delivered a detailed personal clarification in Parliament on Wednesday (04), stating for the first time that the Central Bank of Sri Lanka was not under his purview at the time of the controversial 2015 bond issuance.
Karunanayake said the Central Bank was under the authority of the then Prime Minister Ranil Wickremesinghe, while State and Commercial Banks came under the subject portfolio of the then Minister of State Enterprises Kabir Hashim.
He made the remarks under Standing Order 27/8, responding to a statement made by Prime Minister Harini Amarasuriya on November 26, which he said misrepresented his ministerial responsibilities and damaged his reputation amid ongoing legal proceedings.
Ravi’s Full Statement (Polished Version)
“Honourable Speaker, I rise to draw your attention to a violation of my rights. I am making a personal clarification on this serious matter under Standing Order 27/8.
I wish to inform the Prime Minister that this is not her concern. This is about correcting an injustice done to me. It is not a matter of privilege but a personal clarification.
Honourable Speaker, when responding to this House on November 26, 2025, the Prime Minister made a statement about the 2015 Central Bank bond issue, which has been before the courts for five years. She also referred to my ministerial responsibilities. Her statement is misleading and seriously damages my reputation.
Although she did not explicitly say that the Central Bank was under me as Finance Minister, her reply implied that I held ministerial authority over the institution during the period of the bond transaction. This is false. It is not reflected in the Presidential Commission of Inquiry report and is contradicted by the official Gazette issued under Article 44(1) of the Constitution.
Her comments suggested that I was responsible for the Central Bank and commercial banks at the time. This is an incorrect and misleading claim that affects ongoing legal proceedings.
Honourable Speaker, during my tenure as Finance Minister, I was never assigned the scope of the Central Bank. This is the first time I am publicly stating this. I was not assigned any constitutional or administrative authority over the Central Bank, the Monetary Board, or related regulatory functions. Historically, the Central Bank has always fallen under the Finance Ministry, but that was not the case during my tenure.
Ministerial authority over the Central Bank was delegated to the then Prime Minister and Minister of National Policies and Economic Affairs, Honourable Ranil Wickremesinghe. This is clearly supported by Cabinet papers, Gazette notifications, and circulars.
Similarly, State and Commercial Banks—including the People’s Bank, Bank of Ceylon, National Savings Bank, and SME Bank—were under the responsibility of the Minister of State Enterprises, Honourable Kabir Hashim.
Former President Ranil Wickremesinghe himself has acknowledged this on multiple occasions. Most recently, on May 2, 2025, at a press conference, he stated that he takes full responsibility for this matter.
I also note that Honourable Sunil Handunnetti, who chaired the parliamentary committee at that time, can attest to what I have said.
Finally, the Prime Minister stated that her remarks were based on the recommendations of the Presidential Commission of Inquiry. That too is incorrect and misleading. Nowhere in the Commission’s report does it state that I am guilty.
Thank you, Honourable Speaker.”
